Homebuyers who purchase properties from Opendoor can now return their homes for their money back for any reason.

The real estate tech startup will try to persuade agents to refund the commission they collect on a buyer client's purchase of an Opendoor home if the buyer returns the home to Opendoor, or offer to represent the buyer in another purchase free of charge.

Mike Nonhof wound up buying a home from the real estate tech startup Opendoor largely because he and his wife could visit the listing whenever they liked and because Opendoor agreed to buy the couple’s previous home on the same day they would purchase Opendoor’s home.

Comments

Related Articles

One big hurdle for homebuyers is that they often have to sell the home they live in before they can purchase a new one. Opendoor, an exceptionally well-funded startup that makes “instant offers” on homes and then flips the properties of sellers who accept the offers, has unveiled a service designed to solve the problem.

Roofstock, a website that lets investors find and purchase tenant-occupied single-family rental homes online, is offering a 1 percent referral fee to real estate agents for referring an investor who buys any of the properties listed on its site. The startup posts exclusive listings owned by institutional investors that have snapped up single-family rentals homes en masse and are now seeking to offload them.

Software giant Salesforce is doubling down on predictive analytics. CEO Marc Benioff said that varying industries are calling for smarter systems that help them strategically draw in, score, manage and convert leads.

Real estate broker Joe Rand feels envy and frustration when he reads about the financial valuations of companies like Compass and Redfin — or even ZipRealty when it sold to Realogy for $166 million in 2014. Zip was valued at six times top-line revenue, while the valuation arithmetic for traditional brokerages — like Rand’s profitable Better Homes and Gardens brokerage — is only four to five times net income.